Update July 31 2008: as expected U.S. real GDP growth was revised down for both Q4 2007 and Q1 2008, with Q4 2007 marking a quarter of negative growth at -0.2% (quite a sharp drop from the 4.8% of Q2 and Q3 2007).
In Q2 2008 the economy expanded at a pace of 1.9%. Still below the 2.3% consensus forecast. Residential investments contracted 15.6%, this is an improvement with respect of an average of about -24% in the previous three quarters. Overall gross private domestic investment grew at the slowest pace since Q2 2006: -14.8% (compared with -5.8% in Q1 2008). Gross private domestic[...]